Gap, no gap, it didn't really matter!

 "We don't need no stinking gap", at least not when you have a parabolic move up on the open like this!

 The SPY is moving toward it's first real resistance and test thus far, I guess the extra firepower Wall Street through in the market late yesterday helped out, along with the F_E_D! Remember the bounce of 3/26 came because Bernie made some pre-market statements that Monday morning pre-market that could have been interpreted in any way the market chose to. Only after it failed did the talking heads say the market misread what Bernie said, but the day of the bounce they attributed it to what Bernie said! After a long string of hawkish F_E_D speakers and the market running in to headwinds yesterday did Yellen and Dudley come out with dovish comments. This really makes me question the ties Wall Street and the F_E_D have. The market needs a little help to get what was an obvious bounce set up on Monday, off the ground, there are Yellen and Dudley after market yesterday and pre-market today with some contradictory statements (contradicting what a long line of F_E_D Hawks have been saying recently) to give Wall Street a helping hand. Unreal!

Yesterday's late day positive divergence to give the market a little kick as the Beige Book was not QE supportive. 3C is lagging a little here so we may indeed see some consolidation around that resistance area.